With rising prospects for quite a good wheat crop, Russia's export tax should logically be lifted 1 July at the latest. However, that is still uncertain due to the reason for its introduction last February. Milling Wheat The Black Sea market remains under pressure due to lack of demand. Meanwhile, the weather in Ukraine and Russia is generally favorable for wheat development. The estimated range for the Russian wheat crop is 55-58 MMT, an increase of about 2-4 MMT versus last month's estimates. With prospects for such a good crop, the Russian export tax should logically be lifted 1 July at the latest. However, that is still uncertain as it was initially introduced last February as a means to pressure domestic prices rather than because of...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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